The Narwhal List

Financial Velocity is the amount of funding a firm has raised divided by the number of years it has been in existence. It is expressed in millions of dollars per year. This measure reports the rate at which companies raise and consume capital.

If a company wants to scale to world class it will need to acquire significant investment capital. The more it acquires, the more it can grow. And the faster it can acquire capital, the faster it can grow. So Financial Velocity is a way to track private companies who are trying to scale to world class size.

In the past, our list has shown the top 50 Canadian firms. From now on, we’re going to show all firms that have a Financial Velocity of above 5.0. This means that these firms have raised an average of at least $5 million USD per year to fuel their growth.

We’ve updated the list as of October 9th 2018 and we’re going to try to keep it updated on a regular basis. For an explanation of Financial Velocity and the Narwhal List you can refer to our report, The Narwhal List 2018.